This week, Bloomberg reports one of the poorest areas in Los Angeles County, the City of Bell (population of 38,000), erupted in protest after word spread its city manager earns about $800,000 per year, or nearly twice the salary of the US president.

Exorbitant pay is a rampant problem in the pint-sized city, where the police chief earns almost $460,000 — more than the police chief of the City of Los Angeles (population of 3.8 million) — and council members make roughly $100,000 for the part-time work of meeting twice a month. This all takes place in a California city with a per-capita income of $24,800 in 2008. It’s yet another example of the wise and efficient allocation of taxpayer dollars… right.

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About Rocky Vega:

Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update — which he ran from Brazil, Chile, and Puerto Rico — as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.